Donate a TOAD for tax write write off

When I was done with my toad I sold the tow bar separate and listed the car in RV forums as a toad.

Gotta tell ya you would be doing a newbie RV'er a great favor! :W

There are folks out there that just can't afford to buy new.

I ran across a lot of very thankful, very grateful RV'ers that they could buy either a used tow bar, used Brake Buddy they needed and/or a VERY affordable car ALREADY set up to tow and go.

Just saying another way to think about.

If you're going to donate then just do it and don't concern yourself with a write off. Regardless of what you think is the value at 17 years it's maybe worth $500 and that's a big maybe. Configured for 4 down towing is meaningless considering any potential next owner is very unlikely to have a coach to drag it around. You might be better off removing the pump and base plate and selling these items on ebay or other such service. Probably get more than any potential tax write off.

jpwiggo wrote:
Got a 1998 Chevy venture I've rigged for 4 wheels on the ground tow behind. Got the remco lube pump, sterling tow bar, break buddy, earring etc.

We are the OE just don't need anymore and it's taking up space in the barn. I'm not into selling but just thinking of a

good charity to donate the kit

I know the van on the books not worth a lot but has anyone donated a Toad? Just wondering if I can claim more than the vehicle value and use the TOAD value.

The ONLY place I will donate to is Rawhide Boys Ranch:
http://www.rawhide.org/about-rawhide/

http://www.rawhide.org/car-vehicle-donations/

They receive and fix up a lot of RV's so they will know more about them. I'm from Wisconsin where they are based and have seen the great work they do with youth and their families.

It's Bart Starr's personal charity.

They DO arrange pickups nationwide. And there is a link that explains all the tax write off questions that will answer your questions and/or just give them a call.

Thanks for thinking of others by donating. :C

Gift of Vehicles

Vehicles include cars, trucks, recreational vehicles, boats and airplanes. Each item has a state document of title. Normally, the donor endorses the document of title. It is also desirable to have a second letter or deed of gift to document the intent of the donor to make an irrevocable transfer to charity or to a charitable trust.

The document of transfer should indicate the year, make, model and mileage for a car, truck or RV, the condition of the body, and general mechanical condition. It also is desirable to have a photo of the vehicle that shows the condition.

Certain procedures must now be followed in order to receive a deduction for the value of a used vehicle. The donor must receive a written acknowledgment of the contribution from the donee organization. The acknowledgment must include the name and taxpayer identification number of the donor and the vehicle identification number. Should the donee organization sell the vehicle without any intervening use or improvement of the vehicle, a certification stating that the vehicle was sold in an arm's length transaction between unrelated parties, the gross proceeds from the sale, and a statement that the deductible amount may not exceed the amount of such gross proceeds is also required to be furnished by the donee to the donor in order to receive the deduction for the vehicle donation. Form 1098-C may be filled out with this information and sent to the donor. Form 1098-C (or another qualifying statement) must be received by the donor within 30 days of the sale of the vehicle. However, different requirements exist if the donee organization makes an intervening use or serious improvements to the vehicle prior to the sale or the donee organization sells or gives the vehicle to a needy individual. If the donee organization makes an intervening use or serious improvement to the vehicle, Sec. 170(f)(12)(B)(iv) requires a certification of the intended use or improvement of the vehicle and the intended duration of the use, and a certification that the vehicle would not be transferred in exchange for money, other property, or services before completion of its use or improvement. If the vehicle is sold for $500 or less, the donor may deduct the lesser of the vehicle's fair market value or $500. If the donee organization sells or gives the vehicle to a needy individual, the donor may deduct up to the vehicle's fair market value.

popeyemth wrote:
My understanding is you can ONLY claim the actual amount the charity gets for the vehicle
The charity will provide you with a receipt for the sales amount for your taxes
So if they only get scrap value that's all you can deduct :(

Tax laws change all the time.
I believe this is the current situation

We thought about donating our boat that had sank in a slip, but was rebuild-able to a "boat" charity. Then we received the 1/2" thick set forms that had to be filled out, shipped their packet back and ended up selling it instead. Got the trailer's worth out of it. They required all photos be on "their" disposable camera and would not accept our 25+ digital photos. We were looking at a 425 mile trip to where we had it stored to take the pix. That plus the forms made the sale a no-brainer.

I did this years ago and will never do it again..
many years ago we donated a car to the Boys Club in Los Angeles. Everything on the car worked fine, ran fine, but I just don't like selling vehicles, so we, along with the Boys Club director decided on a real and honest fair price (and it was cheap) for the car, I got a receipt and all was good.

That same year we got a random audit, and this donation came up. They went to the Boys Club and found that the car was GIVEN to the Venice Free Clinic... it was free! The genius's at the IRS came back and tried get us for a false deduction because one organization GAVE an item away the said it must be worth zero otherwise they would have sold it. Brilliant..

After a harassment suit threat by our accountant they begrudgingly dropped it.

Never again

jpwiggo wrote:
Just wondering if I can claim more than the vehicle value and use the TOAD value.

Maybe if you included $5000 cash in the glove box.

We donated our car to Cars for Vets. The looked at it, gave me a receipt for the car with the donation value on it. It was easy.

Don't forget to keep any receipt they give you for at least three years after you file the taxes.

The way I thought it worked is you can deduct the value of you actual vehicle. Not book value for a car of its type but you have to account for any damage, etc. I don't think setting it up as a toad makes any difference. The irs has cracked down in vehicle donation deductions.